LayerZero, the bridging protocol that allows different crypto networks to communicate with each other, plans to connect to Bitcoin sidechain Rootstock in what would be its first integration with the world’s original blockchain.
Rootstock aims to end Bitcoin’s “isolation” from other blockchains due to its lack of native smart contracts, a barrier that LayerZero is able to address, according an emailed announcement shared with CoinDesk on TK.
The Bitcoin blockchain lacks the functionality to offer smart contracts that other blockchains have and which are fundamental building decentralized finance (DeFi) services.
This lack of provision for DeFi on Bitcoin, which holds more value that every other blockchain combined, is an impediment to even greater adoption. That’s prompting developers to seeking ways of tapping into the massive liquidity that is held in bitcoin (BTC) and allowing it to be bridged to rest of the crypto world.
With the connection between Rootstock and LayerZero, developers would be able to build applications on the Bitcoin sidechain that can communicate with the over 100 other blockchains, including Ethereum and Solana, Rootstock said in the announcement.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Hashdex has begun liquidating its Hashdex Bitcoin ETF, ticker DEFI, marking the first closure of…
The SEC has opened a public comment period on Cboe BZX Exchange’s proposal to list…
Bitcoin Magazine Bitcoin Has Its Best Week Since 2023 as Shortsellers Continue To Get Wiped…
BTCS Inc. reduced its DeFi leverage in the second quarter, repaying $8.2 million in debt…
Bitcoin Magazine Bitcoin Price Roars Towards $80,000 Following Positive Regulatory News, US Buyback Pledge Bitcoin…
US spot Bitcoin and Ethereum ETFs drew a combined $825.8 million in single-session inflows, giving…